A company has a contract to build a ship at a price of ($ 500) million and

Question:

A company has a contract to build a ship at a price of $\$ 500$ million and an estimated cost of $\$ 400$ million. In 1999 , costs of $\$ 100$ million were incurred. Under the percentage-ofcompletion method, how much revenue would be recognized in 1999 ?

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